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> How that technology would weaken trust and accountability is beyond me. It's literally perfect for finance Because modern legal systems and modern economies
by eropple 4y ago
> How that technology would weaken trust and accountability is beyond me. It's literally perfect for finance
Because modern legal systems and modern economies work on the assumption that malfeasance is a reason to un-do what crypto systems want to make indelible. This is an obvious and obviously good thing to people who are not absorbed by this odd groupthink. That impedance mismatch is an excellent indicator of why this technology is viewed as stuff for cranks and grifters, even were there useful applications to be had for the public.
> Also, I don't know any law that exempts crypto companies from being taken to court.
...while at the same time the crypto community is wracked by disposable entities fleeing into the night, beyond any practical legal reach.
On the other hand, if somebody compromises your debit card, Bank of America will make you whole while they reverse the transactions on the backend.
- ipaddr 4y agoThe legal system can only be used to settle payment disputes when parties are known. Buying a tv from the back of a van going home to find out it doesn't work will leave you with little legal recourse. The legal system can only work with entities within it's power. Get ripped off from a foreign supplier can require a lawsuit if available to you in an unfriendly legal system. Cryto can solve these trustless entities problems. Bank of America can do very little for your Russian payment disputes.
- heylook 4y ago> Get ripped off from a foreign supplier can require a lawsuit if available to you in an unfriendly legal system. Cryto can solve these trustless entities problems. Pardon the ignorance, but, how, exactly?
- scarmig 4y agoAFAICT crypto's solution to getting screwed by a trustless entity is "screw you, you deserved it for not doing due diligence."
- danans 4y ago> Cryto can solve these trustless entities problems. > Bank of America can do very little for your Russian payment disputes. Didn't know crypto had a contract enforcement apparatus in Russia. How does that work?
- seaourfreed 4y agoDoJ shifts 150 prosectors to crypto cases. A bet at least one will be looking into this. https://news.bitcoin.com/doj-launches-network-of-over-150-federal-prosecutors-to-combat-criminal-uses-of-crypto/ https://news.bitcoin.com/doj-launches-network-of-over-150-fe...